Kennametal Inc. (KMT) to Post Q2 2019 Earnings of $0.69 Per Share, Seaport Global Securities Forecasts
Kennametal Inc. (NYSE:KMT) – Seaport Global Securities lifted their Q2 2019 earnings per share estimates for shares of Kennametal in a report released on Tuesday, November 6th. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will earn $0.69 per share for the quarter, up from their previous estimate of $0.68. Seaport Global Securities also issued estimates for Kennametal’s Q3 2019 earnings at $0.80 EPS, FY2019 earnings at $3.18 EPS, Q1 2020 earnings at $0.90 EPS and Q2 2020 earnings at $0.88 EPS.
A number of other equities research analysts have also issued reports on KMT. BMO Capital Markets reaffirmed a “hold” rating and set a $42.00 target price on shares of Kennametal in a report on Thursday, July 19th. ValuEngine raised shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 price target on the stock. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Barclays reissued a “hold” rating and set a $44.00 price target on shares of Kennametal in a research report on Wednesday, August 8th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $47.00 price target on shares of Kennametal in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $48.50.
Kennametal (NYSE:KMT) last released its earnings results on Monday, November 5th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The business had revenue of $587.00 million during the quarter, compared to analyst estimates of $590.22 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC lifted its position in Kennametal by 105.3% in the second quarter. Moneta Group Investment Advisors LLC now owns 3,510 shares of the industrial products company’s stock valued at $126,000 after buying an additional 1,800 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Kennametal by 169.2% in the second quarter. Advisors Asset Management Inc. now owns 4,316 shares of the industrial products company’s stock valued at $155,000 after buying an additional 2,713 shares during the last quarter. Caption Management LLC acquired a new position in Kennametal in the second quarter valued at about $215,000. Gillespie Robinson & Grimm Inc. acquired a new position in Kennametal in the third quarter valued at about $242,000. Finally, D.A. Davidson & CO. lifted its position in Kennametal by 21.0% in the second quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock valued at $304,000 after buying an additional 1,471 shares during the last quarter.
In other news, VP Michelle R. Keating sold 988 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $42.20, for a total transaction of $41,693.60. Following the transaction, the vice president now owns 14,676 shares of the company’s stock, valued at approximately $619,327.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Gaalen Jan Kees Van sold 13,606 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total transaction of $559,070.54. Following the completion of the transaction, the vice president now directly owns 68,827 shares in the company, valued at approximately $2,828,101.43. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Tuesday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.03%. Kennametal’s payout ratio is 30.19%.
Kennametal Company Profile
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.
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